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Author : Ignacio Esponda
Publisher :
ISBN 13 :
Total Pages : 176 pages
Book Rating : 4.F/5 ( download)
Download or read book Robust Equilibrium Analysis in Games with Uncertainty written by Ignacio Esponda and published by . This book was released on 2006 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ola Andersson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (839 download)
Download or read book Robustness to Strategic Uncertainty written by Ola Andersson and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In games with continuum strategy sets, we model a player's uncertainty about another player's strategy, as an atomless probability distribution over the other player's strategy set. We call a strategy profile (strictly) robust to strategic uncertainty if it is the limit, as uncertainty vanishes, of some sequence (all sequences) of strategy profiles in which every player's strategy is optimal under his or her uncertainty about the others. General properties of this robustness criterion are derived and it is shown that it is a refinement of Nash equilibrium when payoff functions are continuous. We apply the criterion to a class of Bertrand competition games. These are discontinuous games that admit a continuum of Nash equilibria. Our robustness criterion selects a unique Nash equilibrium, and this selection agrees with recent experimental findings. -- Nash equilibrium ; refinement ; strategic uncertainty ; Bertrand competition ; log-concavity
Author : Xiaotie Deng
Publisher : Springer
ISBN 13 : 3319996606
Total Pages : 292 pages
Book Rating : 4.3/5 (199 download)
Download or read book Algorithmic Game Theory written by Xiaotie Deng and published by Springer. This book was released on 2018-08-26 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the 11th International Symposium on Algorithmic Game Theory, SAGT 2018, held in Beijing, China, in September 2018. The 19 full papers presented together with 6 short papers and 5 plenary talks were carefully reviewed and selected from 54 submissions. The papers cover various important aspects of algorithmic game theory including market equilibrium, auctions and applications, two sided markets, cake-cutting, cooperative games, voting games, multi-agent scheduling, price of stability, various mechanism design problems: online-dynamics and multi-stages as well as revenue maximization and resource allocation and applications.
Author : Dirk Bergemann
Publisher : World Scientific
ISBN 13 : 981437458X
Total Pages : 471 pages
Book Rating : 4.8/5 (143 download)
Download or read book Robust Mechanism Design written by Dirk Bergemann and published by World Scientific. This book was released on 2012 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreword by Eric Maskin (Nobel Laureate in Economics, 2007)This volume brings together the collected contributions on the theme of robust mechanism design and robust implementation that Dirk Bergemann and Stephen Morris have been working on for the past decade. The collection is preceded by a comprehensive introductory essay, specifically written for this volume with the aim of providing the readers with an overview of the research agenda pursued in the collected papers.The introduction selectively presents the main results of the papers, and attempts to illustrate many of them in terms of a common and canonical example, namely a single unit auction with interdependent values. It is our hope that the use of this example facilitates the presentation of the results and that it brings the main insights within the context of an important economic mechanism, namely the generalized second price auction.
Author : Sumantra Sen
Publisher :
ISBN 13 :
Total Pages : 123 pages
Book Rating : 4.:/5 (244 download)
Download or read book Essays in Uncertainty and Incomplete Information written by Sumantra Sen and published by . This book was released on 2003 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dirk Bergemann
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (838 download)
Download or read book Robust Predictions in Games with Incomplete Information written by Dirk Bergemann and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mindia E. Salukvadze
Publisher : Springer Nature
ISBN 13 : 3030255468
Total Pages : 290 pages
Book Rating : 4.0/5 (32 download)
Download or read book The Berge Equilibrium: A Game-Theoretic Framework for the Golden Rule of Ethics written by Mindia E. Salukvadze and published by Springer Nature. This book was released on 2020-02-18 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goal of this book is to elaborate on the main principles of the theory of the Berge equilibrium by answering the following two questions: What are the basic properties of the Berge equilibrium? Does the Berge equilibrium exist, and how can it be calculated? The Golden Rule of ethics, which appears in Christianity, Judaism, Islam, Buddhism, Confucianism and other world religions, states the following: “Behave towards others as you would like them to behave towards you." In any game, each party of conflict seeks to maximize some payoff. Therefore, for each player, the Golden Rule is implemented through the maximization of his/her payoff by all other players, which matches well with the concept of the Berge equilibrium. The approach presented here will be of particular interest to researchers (including undergraduates and graduates) and economists focused on decision-making under complex conflict conditions. The peaceful resolution of conflicts is the cornerstone of the approach: as a matter of fact, the Golden Rule precludes military clashes and violence. In turn, the new approach requires new methods; in particular, the existence problems are reduced to saddle point design for the Germeier convolution of payoff functions, with further transition to mixed strategies in accordance with the standard procedure employed by E. Borel, J. von Neumann, J. Nash, and their followers. Moreover, this new approach has proven to be efficient and fruitful with regard to a range of other important problems in mathematical game theory, which are considered in the Appendix.
Author : Lars Peter Hansen
Publisher : Princeton University Press
ISBN 13 : 0691170975
Total Pages : 453 pages
Book Rating : 4.6/5 (911 download)
Download or read book Robustness written by Lars Peter Hansen and published by Princeton University Press. This book was released on 2016-06-28 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking outcomes to decisions and then to choose the optimal distribution of outcomes. This assumes that the decision maker trusts the model completely. But what should a decision maker do if the model cannot be trusted? Lars Hansen and Thomas Sargent, two leading macroeconomists, push the field forward as they set about answering this question. They adapt robust control techniques and apply them to economics. By using this theory to let decision makers acknowledge misspecification in economic modeling, the authors develop applications to a variety of problems in dynamic macroeconomics. Technical, rigorous, and self-contained, this book will be useful for macroeconomists who seek to improve the robustness of decision-making processes.
Author : Andrés Perea
Publisher : Cambridge University Press
ISBN 13 : 1107008913
Total Pages : 581 pages
Book Rating : 4.1/5 (7 download)
Download or read book Epistemic Game Theory written by Andrés Perea and published by Cambridge University Press. This book was released on 2012-06-07 with total page 581 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first textbook to explain the principles of epistemic game theory.
Author : Xu Wang
Publisher :
ISBN 13 :
Total Pages : 109 pages
Book Rating : 4.:/5 (197 download)
Download or read book On Various Equilibrium Solutions for Linear Quadratic Noncooperative Games written by Xu Wang and published by . This book was released on 2007 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Game theory has been widely used to model decision making processes because it can capture the nature of multi-player problems: the determination of one player's control strategy is not only subject to the system state evolution but is also tightly coupled to the determination of the other players' strategies and vice versa. In this dissertation, we categorize linear quadratic (LQ) games into three groups: definite, singular and indefinite. For singular LQ games: 1) a new equilibrium concept: asymptotic [epsilon]-Nash equilibrium is proposed for a two-player nonzero-sum game where each player has a control-free cost functional quadratic in the system states over an infinite horizon and each player's control strategy is constrained to be continuous linear state feedback; 2) a group of algebraic equations of system coefficients is found whose solution can constitute the partial state feedback asymptotic [epsilon]-Nash equilibrium for the singular LQ games. Conditions on initial states and the parameter [epsilon] are provided such that the asymptotic [epsilon]-Nash equilibrium will be an [epsilon]-Nash equilibrium or a Nash equilibrium; 3) for a class of 2nd-order singular LQ games, the closed-form asymptotic [epsilon]-Nash equilibrium is explicitly found in terms of system coefficients. Robust equilibrium solutions for two-player asymmetric games with an additive uncertainty are studied: 1) regarding the uncertainty as the third player, a three-player non-cooperative nonzero-sum game is formed and each player's cost functional value resulting from the output feedback Nash equilibrium of this three-player game is not as conservative as his/her individual rationality; 2) regarding the coalition of the original two players as one player and the uncertainty as another player, a two-player non-cooperative nonzero-sum game is formed to find un-improvable robust a equilibrium for the original game. Inverse problems for indefinite games are investigated (for which weighting matrices in the cost functional such that the given linear state feedback control strategy can constitute a Nash equilibrium solution): 1) a necessary and sufficient condition for the inverse problem is provided using a group of algebraic equations linear in the variables and the weighting matrices; 2) the inverse problem for a class of 2nd-order two-player LQ game is thoroughly discussed.
Author : João P. Hespanha
Publisher : Princeton University Press
ISBN 13 : 0691175217
Total Pages : 242 pages
Book Rating : 4.6/5 (911 download)
Download or read book Noncooperative Game Theory written by João P. Hespanha and published by Princeton University Press. This book was released on 2017-06-13 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Noncooperative Game Theory is aimed at students interested in using game theory as a design methodology for solving problems in engineering and computer science. João Hespanha shows that such design challenges can be analyzed through game theoretical perspectives that help to pinpoint each problem's essence: Who are the players? What are their goals? Will the solution to "the game" solve the original design problem? Using the fundamentals of game theory, Hespanha explores these issues and more. The use of game theory in technology design is a recent development arising from the intrinsic limitations of classical optimization-based designs. In optimization, one attempts to find values for parameters that minimize suitably defined criteria—such as monetary cost, energy consumption, or heat generated. However, in most engineering applications, there is always some uncertainty as to how the selected parameters will affect the final objective. Through a sequential and easy-to-understand discussion, Hespanha examines how to make sure that the selection leads to acceptable performance, even in the presence of uncertainty—the unforgiving variable that can wreck engineering designs. Hespanha looks at such standard topics as zero-sum, non-zero-sum, and dynamics games and includes a MATLAB guide to coding. Noncooperative Game Theory offers students a fresh way of approaching engineering and computer science applications. An introduction to game theory applications for students of engineering and computer science Materials presented sequentially and in an easy-to-understand fashion Topics explore zero-sum, non-zero-sum, and dynamics games MATLAB commands are included
Author : Jacob K. Goeree
Publisher : Princeton University Press
ISBN 13 : 069112423X
Total Pages : 322 pages
Book Rating : 4.6/5 (911 download)
Download or read book Quantal Response Equilibrium written by Jacob K. Goeree and published by Princeton University Press. This book was released on 2016-06-28 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantal Response Equilibrium presents a stochastic theory of games that unites probabilistic choice models developed in psychology and statistics with the Nash equilibrium approach of classical game theory. Nash equilibrium assumes precise and perfect decision making in games, but human behavior is inherently stochastic and people realize that the behavior of others is not perfectly predictable. In contrast, QRE models choice behavior as probabilistic and extends classical game theory into a more realistic and useful framework with broad applications for economics, political science, management, and other social sciences. Quantal Response Equilibrium spans the range from basic theoretical foundations to examples of how the principles yield useful predictions and insights in strategic settings, including voting, bargaining, auctions, public goods provision, and more. The approach provides a natural framework for estimating the effects of behavioral factors like altruism, reciprocity, risk aversion, judgment fallacies, and impatience. New theoretical results push the frontiers of models that include heterogeneity, learning, and well-specified behavioral modifications of rational choice and rational expectations. The empirical relevance of the theory is enhanced by discussion of data from controlled laboratory experiments, along with a detailed users' guide for estimation techniques. Quantal Response Equilibrium makes pioneering game-theoretic methods and interdisciplinary applications available to a wide audience.
Author : David K. Levine
Publisher : Open Book Publishers
ISBN 13 : 1906924929
Total Pages : 154 pages
Book Rating : 4.9/5 (69 download)
Download or read book Is Behavioral Economics Doomed? written by David K. Levine and published by Open Book Publishers. This book was released on 2012 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, David K. Levine questions the idea that behavioral economics is the answer to economic problems. He explores the successes and failures of contemporary economics both inside and outside the laboratory, and asks whether popular behavioral theories of psychological biases are solutions to the failures. The book not only provides an overview of popular behavioral theories and their history, but also gives the reader the tools for scrutinizing them.
Author : Michele Leslie Aghassi
Publisher :
ISBN 13 :
Total Pages : 209 pages
Book Rating : 4.:/5 (645 download)
Download or read book Robust Optimization, Game Theory, and Variational Inequalities written by Michele Leslie Aghassi and published by . This book was released on 2005 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a robust optimization approach to analyzing three distinct classes of problems related to the notion of equilibrium: the nominal variational inequality (VI) problem over a polyhedron, the finite game under payoff uncertainty, and the network design problem under demand uncertainty. In the first part of the thesis, we demonstrate that the nominal VI problem is in fact a special instance of a robust constraint. Using this insight and duality-based proof techniques from robust optimization, we reformulate the VI problem over a polyhedron as a single- level (and many-times continuously differentiable) optimization problem. This reformulation applies even if the associated cost function has an asymmetric Jacobian matrix. We give sufficient conditions for the convexity of this reformulation and thereby identify a class of VIs, of which monotone affine (and possibly asymmetric) VIs are a special case, which may be solved using widely-available and commercial-grade convex optimization software. In the second part of the thesis, we propose a distribution-free model of incomplete- information games, in which the players use a robust optimization approach to contend with payoff uncertainty.
Author : Deepanshu Vasal
Publisher :
ISBN 13 :
Total Pages : 7 pages
Book Rating : 4.:/5 (129 download)
Download or read book Alpha-Robust Equilibrium in Anonymous Games written by Deepanshu Vasal and published by . This book was released on 2020 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we consider the notion of -robust equilibrium for finite strategic players in anonymous games, where utility of a player depends on other players' actions only through the resulting distribution of actions played. This equilibrium is defined as the set of strategies of the players such that no user wants to deviate as long as N-alpha-1 number are playing the equilibrium strategies (whom we call rational). In this paper we provide sufficient conditions for the existence of such an equilibrium. We first define best response functions of the players for any arbitrary strategies of the rational and irrational players. Then we define a second response function that takes the intersection of the previous best responses over all possible strategies of the irrational players. We first prove an extension of Berge's maximal theorem for correspondences to show that such an intersection is hemi-continuous. Using this and Kakutani's fixed-point theorem, we argue that if such an intersection is non-empty for every strategy profile of the rational players then there exists an alpha-robust equilibrium. Then we provide sufficient conditions on the utilities of the players when such a best response could be non-empty.
Author : Steve Tadelis
Publisher : Princeton University Press
ISBN 13 : 0691129088
Total Pages : 416 pages
Book Rating : 4.6/5 (911 download)
Download or read book Game Theory written by Steve Tadelis and published by Princeton University Press. This book was released on 2013-01-06 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive introduction to game theory This comprehensive textbook introduces readers to the principal ideas and applications of game theory, in a style that combines rigor with accessibility. Steven Tadelis begins with a concise description of rational decision making, and goes on to discuss strategic and extensive form games with complete information, Bayesian games, and extensive form games with imperfect information. He covers a host of topics, including multistage and repeated games, bargaining theory, auctions, rent-seeking games, mechanism design, signaling games, reputation building, and information transmission games. Unlike other books on game theory, this one begins with the idea of rationality and explores its implications for multiperson decision problems through concepts like dominated strategies and rationalizability. Only then does it present the subject of Nash equilibrium and its derivatives. Game Theory is the ideal textbook for advanced undergraduate and beginning graduate students. Throughout, concepts and methods are explained using real-world examples backed by precise analytic material. The book features many important applications to economics and political science, as well as numerous exercises that focus on how to formalize informal situations and then analyze them. Introduces the core ideas and applications of game theory Covers static and dynamic games, with complete and incomplete information Features a variety of examples, applications, and exercises Topics include repeated games, bargaining, auctions, signaling, reputation, and information transmission Ideal for advanced undergraduate and beginning graduate students Complete solutions available to teachers and selected solutions available to students
Author : William H. Sandholm
Publisher : MIT Press
ISBN 13 : 0262195879
Total Pages : 618 pages
Book Rating : 4.2/5 (621 download)
Download or read book Population Games and Evolutionary Dynamics written by William H. Sandholm and published by MIT Press. This book was released on 2010-12-17 with total page 618 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolutionary game theory studies the behaviour of large populations of strategically interacting agents & is used by economists to predict in settings where traditional assumptions about the rationality of agents & knowledge may be inapplicable.
